Well, on the bus, you will lose A/P, FD and A/THR. So nope, youīre not RVSM.
Itīs not a mayday, but a few unable RVSM and RNAV are mandatory. Just fly it manually, use stand by nav, and fly the acft as a conventional one, while trying to recover at least one FMGS doing resets. And of course, ask for vectors if you are under radar control.
Itīs actually good on long flights to practice a little bit with the VORīs, knowing what radial are you in, how will you get in a holding from X radial, how will you intercept that other radial outbound...It really helps.
Nice to have been a FI before the bus